Company Overview - As of December 31, 2024, Central China New Life Limited is the largest property management service provider in central China by total gross floor area under management and total revenue for the year[18]. - The company serves over 2.6 million property owners and residents across 1,121 properties, covering all 18 prefecture-level cities in Henan and extending to multiple provinces[19]. - The diversified portfolio managed includes residential and commercial properties, office buildings, gyms, special towns, rural complexes, schools, hospitals, parks, and industrial parks[19]. - Central China New Life Limited has been ranked 11th among the Top 100 Property Management Companies in China for four consecutive years since 2021[19]. - The company was incorporated on October 16, 2018, and listed on the Main Board of The Stock Exchange of Hong Kong Limited on May 15, 2020[17]. - The company has a significant operating history of three decades, contributing to its growth and reputation in the property management sector[18]. - The total gross floor area managed by the company as of December 31, 2024, reflects its leading position in the central China property management market[18]. Financial Performance - The Group achieved revenue of RMB2,952.2 million for the year ended 31 December 2024, representing an increase of approximately 3.8% compared to RMB2,844.7 million in 2023[122]. - Net profit amounted to RMB238.2 million, a significant recovery from a net loss of RMB577.9 million in the corresponding period in 2023[122]. - Basic property management services generated revenue of RMB2,298.8 million, a year-on-year increase of 15.4%, accounting for 77.9% of total revenue[128]. - The accumulated contracted GFA reached 290.1 million sq.m., while the GFA under management increased to 196.9 million sq.m., representing growth of 0.7% and 8.3% respectively compared to 31 December 2023[134]. - A final dividend of RMB88.3 million was declared for the year ended 31 December 2024, maintaining a high level of dividend distribution[134]. - Gross profit decreased by 15.4% to RMB 640,738,000, with a gross profit margin of 21.7%, down from 26.6% in the previous year[156]. - Core net profit attributable to shareholders decreased by 27.1% to RMB 294,044,000 compared to RMB 403,203,000 in 2023[156]. Community Engagement and Initiatives - CCNL's community dining services achieved a coverage rate of 17% and generated nearly RMB 20 million in revenue within its first year[35]. - CCNL hosted over 300 "Neighbourhood Family Banquet" events, bringing together nearly 50,000 property owners to celebrate its 30th anniversary[62]. - Throughout 2024, CCNL held over 9,700 community events, attracting more than 810,000 participants[89]. - CCNL established "CCNL Starlight Book Corners" to inspire children's curiosity through a book donation campaign in April[46]. - In September, CCNL launched the "Good Life" Initiative, introducing measures such as the Good Life Pass and Good Life Rider Map to enhance delivery services[71]. - A total of 431 "Neighbourhood Family Mid-Autumn Banquets" were held, bringing together 48,690 residents[73]. - In November, CCNL's "This Is My Home" Photography Contest received 4,248 submissions, with total participation reaching 150,000 people[81]. - CCNL's "Warm Winter Action — Love for Farmers" initiative distributed over 800,000 catties of seasonal vegetables to property owners[85]. Awards and Recognition - CCNL received multiple awards, including being ranked 11th in the "2024 China Top 100 Property Management Companies" list[24]. - The company was recognized as the "2024 Outstanding Brand Enterprise in Public Property Management Services in China" at the 2024 China Real Estate Brand Value Research Conference[108]. - Henan Central China New Life Service Co., Ltd. was recognized as the "2024 Leading Property Management Companies in Central China in terms of Market Position (Top 1)" and "2024 Property Management Companies in Henan Province in terms of Market Position (Top 1)"[110]. - The company secured 23 awards in 2024, highlighting its strong performance in property management across various projects and regions[114]. - The company was recognized as a "Leading Enterprise in Property Service Quality" by the Henan Property Management Association in February 2024[114]. - The company received the "Advanced Unit for Trade" award from the Zhengzhou Finance, Trade, Light Industry and Service Industry Union for its outstanding performance in 2023[116]. Strategic Focus and Future Plans - The company aims to enhance living quality and lifestyle experiences for residents in Henan, leveraging its well-established brand and operational history[18]. - The Group focused on enhancing customer value by integrating basic standard services with customized lifestyle services, improving service response efficiency[127]. - Plans to innovate a lifestyle service ecosystem are underway, integrating property services with living needs to enhance community consumption[145]. - The Group is focusing on enhancing service quality and diversifying offerings in response to the evolving property management industry[172]. - In 2025, the Group plans to implement a regional focus strategy and high-quality expansion by identifying high-potential areas and strengthening investment in niche segments[173]. - The strategy includes a focus on high-quality investment and expansion targets, optimizing market expansion mechanisms[178]. Operational Efficiency and Innovation - The Group aims to deepen innovation in basic and lifestyle service models to create a second growth curve, focusing on sustainable and high-quality businesses[179]. - The Group plans to leverage cutting-edge technology to enhance operational efficiency and service quality through intelligent operation management and digital service processes[180]. - Organizational effectiveness was optimized through process reengineering and talent training to support sustainable development[127]. - Innovative service models, such as community group meals, were developed to broaden growth opportunities in value-added services[135].
建业新生活(09983) - 2024 - 年度财报